Tag Archives: revenue

On repeated occasions, the Federal Inland Revenue Service (FIRS) has cautioned the general public to be vigilant and circumspect not to deal with scam artists who pose as recruitment agents for the Service and collect vast sums of money from unsuspecting victims with the promise to provide them employment. Again, …

Although taxes now seem to be the main revenue source of the government, it would need even more attention to become the new oil as the amount generated from the source remains low relative to government spending For the first time in nearly half a century, non-oil revenue usurped petrodollars …

The International Fiscal Association (IFA) has thrown its weight behind Nigeria for refusing to endorse the Organization for Economic Cooperation and Development (OECD) G20 inclusive Framework two-pillar solution to the taxation of the digital economy, saying it will be an infringement on Nigeria’s sovereignty. The Federal Inland Revenue Service (FIRS) …

The Executive Chairman of the Federal Inland Revenue Service, (FIRS) has received encomiums from the Global Economic Policy Initiative (GEPIn) for what the group describes as “fiscal prudence over the affairs of the FIRS, and ensuring maximum efficiency with minimal resources.” In a statement shared to the media by the …

The experience of COVID-19, especially in developing nations with dependent oil resources like Nigeria, has further heightened the call for the diversification of revenue sources. Oil benchmark prices dropped below zero, forcing producers to pay off-takers because of the compounding demurrage from warehouses. Nigeria has not hidden its desire to …

The Federal Inland Revenue Service (FIRS) has stated that it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to ensure adequate funding of the country’s budget and raise the requisite financing for national development. This was stated by the Executive Chairman of …

For the first time in Nigeria, the country’s major revenue generation and collection agency, Federal Inland Revenue Service with the acronym “FIRS” broke the jinx and did wonders for the country. FIRS recorded N6.405 trn revenue in 2021 thus surpassing its target by more than 100 percent. What a great …

The Federal Inland Revenue Service (FIRS) has stated that it achieved over a hundred percent of its collection target for the year 2021, despite the global economic challenges occasioned by the Coronavirus pandemic, as well as the disruption of business activities in 2020 by nationwide protests. “Notwithstanding the limitations faced …

The Federal Inland Revenue Service (FIRS) has stated that it will achieve 100% automation of all its tax administration processes with the aim of blocking revenue leakages thereby revolutionizing revenue generation in Nigeria. Calling for the cooperation of Nigerians to achieve this, the Executive Chairman of the FIRS, Muhammad Nami …

At about 11 am, on Friday, November 12, 2021, there was a buzz among tax aficionados: Muhammad Nami, the Federal Inland Revenue Service (FIRS) boss had been elected the President of the Commonwealth Association of Tax Administrators (CATA). He is the first Nigerian in the history of CATA to be …